TIDMNWF
RNS Number : 9899G
NWF Group PLC
12 August 2016
NWF Group plc
For release 12 August 2016
NWF Group plc ('NWF', 'the Group' or 'the Company')
Award of Options and Issue of Equity under Company Performance
Share Plan
NWF Group plc, the specialist agricultural and distribution
business, announces the following award has been approved under the
terms of the established NWF Company Performance Share Plan (the
"Plan").
Richard Whiting, Chief Executive of NWF, will receive an award
of a conditional right over a maximum of 160,870 ordinary shares of
25 pence each of the Company ("Shares") at a price of 172.5 pence
per Share, being the mid-market price at the close of business on
11 August 2016. This award is subject to the following performance
targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2019 increases by RPI plus 3%
per annum then 48,261 Shares will be issued under the Plan; and
2. the maximum of 160,870 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 10% per
annum for the three financial years ending 31 May 2019.
Following the award, Richard Whiting will be interested in
498,428 conditional awards over Shares.
Rob Andrew, Group Company Secretary of NWF, will receive an
award of a conditional right over a maximum of 72,464 Shares at a
price of 172.5 pence per Share, being the mid-market price at the
close of business on 11 August 2016. This award is subject to the
following performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2019 increases by RPI plus 3%
per annum then 21,739 Shares will be issued under the Plan; and
2. the maximum of 72,464 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 10% per
annum for the three financial years ending 31 May 2019.
Following the award, Rob Andrew will be interested in 224,329
conditional awards over Shares.
The Company announces that it has issued and allotted 116,139
Shares, in respect of awards made under the Plan. Following the
satisfaction of performance conditions 65,611 Shares were allotted
to Richard Whiting who has an interest of 376,378 Shares
representing 0.77% of the issued share capital of the Company.
30,732 Shares were allotted to Brendon Banner who has an interest
in 43,232 Shares representing 0.09% of the issued share capital of
the Company. 19,796 Shares were allotted to Rob Andrew.
On 10 August 2016, Rob Andrew notified the Company that on 10
August 2016 he sold 19,800 Shares at a price of 170 pence per
Share. Rob Andrew has an interest in 70,364 Shares in the Company
representing 0.14% of the issued share capital of the Company.
Application has been made for the 116,139 new Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to
take place at 8.00 am on 15 August 2016.
Following Admission NWF's total issued share capital will be
48,644,620 Shares. There are no shares held in treasury.
The Plan was established for the purpose of incentivising and
retaining the Company's eligible executive management. Shares
awarded under the Plan are subject to a performance criteria that
requires NWF to meet a minimum reported basic earnings per share
target over a three year period. The Remuneration Committee has
responsibility for determining the award of Shares and the
performance targets under the Plan.
Enquiries:
Rob Andrew Reg Hoare / Andrew Leach Justin Jones / Mike Bell
Group Company Secretary MHP Communications Peel Hunt LLP
NWF Group plc Tel: 0203 128 8100 (Nominated Adviser)
Tel: 01829 260 260 Tel: 020 7418 8900
Notification and public disclosure of transactions by persons
discharging
managerial responsibilities and persons closely associated with
them
1. Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------------------------
a. Name Richard Antony Whiting
--- ------------------------------ --------------------------------------------
2. Reason for the notification
--- ----------------------------------------------------------------------------
a. Position/status CEO
--- ------------------------------ --------------------------------------------
b. Initial notification Initial
/Amendment
--- ------------------------------ --------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------------------
a. Name NWF Group plc
--- ------------------------------ --------------------------------------------
b. LEI 213800ARRZNN1WVZ9M70
--- ------------------------------ --------------------------------------------
4. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------------------------
a. Description
of the NWF Group plc 25p Ordinary Shares
Financial
instrument,
type
of instrument
Identification
code
--- ------------------------------ --------------------------------------------
b. Nature of
the transaction Issue of awards under Company Share
Performance Plan
--- ------------------------------ --------------------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil 65,611
---------- ----------
--- ------------------------------ --------------------------------------------
d. Aggregated
information
* Aggregated volume 65,611 Ordinary Shares awarded
on 10 August 2016 at nil cost
* Price
--- ------------------------------ --------------------------------------------
e. Date of the 10 August 2016
transaction
--- ------------------------------ --------------------------------------------
f. Place of London Stock Exchange AIM
the transaction
--- ------------------------------ --------------------------------------------
Notification and public disclosure of transactions by persons
discharging
managerial responsibilities and persons closely associated with
them
5. Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------------------------
a. Name Brendon James Banner
--- ------------------------------ --------------------------------------------
6. Reason for the notification
--- ----------------------------------------------------------------------------
a. Position/status Finance Director
--- ------------------------------ --------------------------------------------
b. Initial notification Initial
/Amendment
--- ------------------------------ --------------------------------------------
7. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------------------
a. Name NWF Group plc
--- ------------------------------ --------------------------------------------
b. LEI 213800ARRZNN1WVZ9M70
--- ------------------------------ --------------------------------------------
8. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------------------------
a. Description
of the NWF Group plc 25p Ordinary Shares
Financial
instrument,
type
of instrument
Identification
code
--- ------------------------------ --------------------------------------------
b. Nature of
the transaction Issue of awards under Company Share
Performance Plan
--- ------------------------------ --------------------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil 30,732
---------- ----------
--- ------------------------------ --------------------------------------------
d. Aggregated
information
* Aggregated volume
30,732 Ordinary Shares awarded
on 10 August 2016 at nil cost
* Price
--- ------------------------------ --------------------------------------------
e. Date of the 10 August 2016
transaction
--- ------------------------------ --------------------------------------------
f. Place of London Stock Exchange AIM
the transaction
--- ------------------------------ --------------------------------------------
Notification and public disclosure of transactions by persons
discharging
managerial responsibilities and persons closely associated with
them
9. Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------------------
a. Name Stephen Robert Andrew
---- ------------------------------ ----------------------------------------------
10. Reason for the notification
---- ------------------------------------------------------------------------------
a. Position/status Company Secretary
---- ------------------------------ ----------------------------------------------
b. Initial notification Initial
/Amendment
---- ------------------------------ ----------------------------------------------
11. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ------------------------------------------------------------------------------
a. Name NWF Group plc
---- ------------------------------ ----------------------------------------------
b. LEI 213800ARRZNN1WVZ9M70
---- ------------------------------ ----------------------------------------------
12. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
---- ------------------------------------------------------------------------------
a. Description
of the NWF Group plc 25p Ordinary Shares
Financial
instrument,
type
of instrument
Identification
code
---- ------------------------------ ----------------------------------------------
b. Nature of
the transactions Disposal of Ordinary Shares and
issue of awards under Company Share
Performance Plan and disposal of
Ordinary Shares
---- ------------------------------ ----------------------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) --------- ----------
170p 19,800
--------- ----------
Nil 19,796
--------- ----------
---- ------------------------------ ----------------------------------------------
d. Aggregated
information
* Aggregated volume 19,800 Ordinary Shares sold on
10 August 2016 at 170p pence per
share
* Price 19,796 Ordinary Shares awarded
on 10 August 2016 at nil cost
---- ------------------------------ ----------------------------------------------
e. Date of the 10 August 2016
transactions
---- ------------------------------ ----------------------------------------------
f. Place of London Stock Exchange, Main Market
the transactions AIM
---- ------------------------------ ----------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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